A programming error at the Johannesburg Stock Exchange (JSE) caused it to heavily overstate foreign purchases data since May.
The incorrect foreign trading statistics showed there had been R98.1 billion worth of non-resident purchases between 31 May and 20 July, when in fact there had been a divestment by foreigners of R36.35 billion over the period.
In a statement, the JSE explained the programming error affected the manner in which the JSE extracts statistical data from its core transactional systems, which meant the foreign trading statistics were incorrectly calculated between 31 May and 20 July.
"We have taken immediate steps to correct the statistics and we are considering additional measures to avoid a reoccurrence. We recognise the importance of this data to all stakeholders and apologise for the miscalculation," says Leanne Parsons, director of information services at the JSE.
"The programming error was corrected on 21 July and daily reports received from 22 July are accurate, as is the source data," the JSE says.
The glitch showed net foreign purchases of R6.4 billion in May when in fact there was a R16.1 billion divestment by foreigners. In June, net sales of R20.3 billion were incorrectly shown as purchases of R63.8 billion, and July to date purchases of R0.05 billion were incorrectly inflated to purchases of R27.9 billion.
Updated statistics will be available on the JSE Web site by 17:00 today, 25 July.
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